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Reducing Revolving Loan Payment Analyzer Definitions
| Loan Amount |
The total loan amount you have (or are looking to have) available. |
| Assumed Average Variable Lending Rate |
The assumed variable lending rate you expect to pay on average over the life of your loan. |
| Loan Term (Years) |
The term of the contract under which you agree to make payments to a lender. |
| Amortized Term (Years)
| The number of years used to calculate your loan payment. The calculator assumes principal amortizes by an equal amount each month. |
| Average Monthly Checking
| The average dollar balance in your checking account. |
| Average Monthly Interest Bearing Account
| If you have an interest bearing account, this balance is separate from your regular checking account. Enter the average dollar amount in the interest bearing account. |
| Average Interest Bearing Account Rate/Yield
| The average Interest Bearing Account Rate/Yield you expect to earn. |
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